That stock price comes after a 23 percent surge on Monday, though not because of popcorn sales.ĪMC Theatres CEO Adam Aron at CinemaCon 2021 Getty Images for CinemaConĪron didn’t only talk about popcorn (both in its pre-popped and microwave varieties, adding that the Extra Butter flavor comes with “six packets of additional buttery topping that eaters at home can use to slather all over their popcorn”). Wedbush gave AMC Entertainment a target stock price of just $2 in a report on Monday ahead of earnings. Or that analyst forecasts for AMC remain bleak. Or that it still has nearly $5 billion worth of debt. Never mind that AMC Entertainment lost another $287.7 million this past quarter, bringing its net losses for the year to $973 million. We think this is a big opportunity for us.” “Let’s put it this way, we’re setting up our production plants to make millions of bags and microwave packs of popcorn. This is a very nice position to be in when you’re launching a new product,” he said. “It’s all new, we haven’t started it yet, and the interest level is very high. But Aron was really excited about getting into the at-home popcorn business, calling it a potentially “multi-billion dollar” market, and teased it could one day be sold in theaters or even internationally under the Odeon Cinemas brand. In truth, it could be a good way for AMC to generate additional revenue when it’s needed most. We actually worked for a full year on the flavor profile of these products. “Not to interrupt, but you know what you’re going to like more than how we report the popcorn results? Eating the popcorn. (They’re Classic Butter, Extra Butter, and Lightly Salted.) Boy they make me excited, because you’re excited about it.”ĪMC Says 20,000 People Already Booked Their Own ‘Barbie’ and ‘Oppenheimer’ Double Featuresįor the one analyst who did get a question in, Aron briefly cut him off to expound on the popcorn flavor profiles. The likes are sky high, the retweets are sky high, the comments back to me, every single one of which I read by the way, I got like 45,000 inbound messages on the popcorn tweets recently and I read them all. “When I look at the readership of the tweets I’ve been putting out recently on popcorn, they’re sky high. “Yes, the enthusiasm and excitement for AMC Perfectly Popcorn at home is real. In a call that went long and was limited to just one live question from an analyst, Aron instead took undisclosed shareholder questions and went above and beyond this morning’s press release in explaining how much excitement there is for AMC popcorn you can eat at home. It wasn’t just a line item during prepared marks. So excited that he devoted a large chunk of time during the theater chain’s earnings call Tuesday to tell you all about the buttery goodness coming soon to a store near you. AMC Theatres announced a new line of AMC-branded popcorns sold exclusively at Walmart, and CEO Adam Aron wants you to know he’s really excited about it.
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